Imf To Increase Aid To Argentina

Briefcase

August 22, 2001

The International Monetary Fund is ready to offer an additional $8 billion in loans to Argentina. IMF Managing Director Horst Koehler said Tuesday that he will recommend an increase of $8 billion in the current stand-by loan for cash-strapped Argentina. Of the $8 billion, $5 billion would be available immediately upon board approval of the recommendation, which is expected to happen in early September.

JUDGE ORDERS SHIP ALTERATIONS

A casino ship must make restrooms more accessible for passengers in wheelchairs, a federal judge in Miami has ruled in the first trial over disabled access to passenger ships. A disabilities-advocacy group had asked for widespread changes ranging from lower craps tables to installation of an elevator on the Casino Princesa ship sailing daily out of Miami. But the judge ruled the suggestions were either too expensive or would fundamentally alter the casino games. He limited alterations to restroom fixtures on one of four decks.

TARGET: KMART ADS NOT RIGHT

Target Corp. accused rival discounter Kmart Corp. in a lawsuit Tuesday of lying to consumers in a nationwide advertising campaign that compares Kmart prices with those of competitors. The complaint filed in U.S. District Court in Minneapolis accuses Kmart of false advertising, unlawful and deceptive trade practices and consumer fraud in its "Dare to Compare" campaign. Target maintains the signs are "deceptive, rife with errors and provide no meaningful information to consumers," according to the complaint. Kmart said in a statement that it is providing valuable information to its customers so they can make informed purchases.

WHITEMARK HOMES TO BUY FIRM

Whitemark Homes Inc. of Orlando announced Tuesday that it has signed a letter of intent to acquire North Florida Consulting Inc. The company will be purchased for stock and other considerations including the assumption of debt. Whitemark Homes estimated the value of the transaction at $25 million to $30 million. Whitemark is a real estate developer and home builder. North Florida Consulting is a Florida-based real estate developer.